MEETINGS OF CREDITORS.

Lyttelton Times, Volume XCVII, Issue 11226, 25 March 1897, Page 3

MEETINGS OF CREDITORS.

JAMES STEVENSON. A meeting of tho creditors of James Stevenson, formerly of Woodend, hotelkeeper, was held at 11 a.m. yesterday. Six creditors were present, and Mr Fisher appeared for Messrs J. Shand and Co., creditors.

No regular statement had been, filed, but the bankrupt submitted a document showing liabilities £366 4s 7d and assets -£192 10s, leaving a deficiency of -£173 14s 7d. Tho principal liabilities were: —J. Davis £45 5s fid, E. Feldwiok £25, W. Forrest -£'2s, J. Judsou .£l2, Louisson and Co. £2S, Fletcher, Humphreys and Co. '.£67 10s 4d, Lascelles and Glen £25, Wood, Shand and Co. £53, Bishop and Gard’ner £2B 10s, D.I.C. £l4 Is Gd. Tho assets were;— Cash in hands of Acton-Adams and Kippenberger £IOB 10s, book debts £B4. The bankrupt stated on oath that he had been in business as a publican for a year and nine months, at the Royal Hotel, Woodend, until Jan. 8 last, when ho sold to Mr Hansmann, for £196 for the furniture, £6B for the stock, £l2 for license, £6 6s lOd for insurance. Mr Hansmann also paid £25 to Fletcher, Humphreys and Co. for the goodwill of the lease. When bankrupt started in the hotel lie had no capital of his own. He leased tho hotel from Mr 'Thoinpkins’s estate at £l5O a year, and took over the stock and furniture at a valuation —£253. Mr Egan advanced bankrupt £2OO, repayable on demand, at 8 per cent, on a bill of sale over the furniture, and also'made a beer covenant. Also borrowed £29 from Mr W.', Forrest, labourer, of Kaiapoi, without security, at 8 per cent. Had an overdraft at the Bank of New Zealand, guaranteed by Mr Davis, up to £SOO. Had kept books. On Dec. 8 last he borrowed £2O from Fletcher, Humphreys and Co. to pay the rent. Had begun to dishonour bills to Wood, Shand and Co. in May. Opened an account with Gard’ner and Bishop in September, and dishonoured a bill for £ls 6s to them on Nov. 28. Did not recollect being told by Wood, Shand and Co. that his account must not bo increased before he went to Gard’ner and Bishop. In October last he could not meet a bill, and borrowed £ls, to be repaid in two months, from Gard’ner and Bishop. Did not then tell Mr Gard’ner that he could not meet hills to Wood, Shand and Co. Told Mr Gard’ner ho wanted the money for breaking up and cropping a piece of land. Broke up and sowed eight acres and a half, and sold the prospective crop for £lO, which he used to pay part of a bill for £ls due to Mr Shand. Had allowed his wife 10s a week as wages for doing the cooking. Paid her bills also. He was now engaged in working in Hadfield and Co.’s brewery in Palmerston North, for Cs a day, which was all he was getting at present. Had put no money into the brewery. Had borrowed £3 to go north. A meeting of his creditors, at which he was present, had been held in Mr Kippenberger’s office on Jan. 8 last. Nine or ten creditors were present. They told him to file. He had not done so. His wife was now living at Kaiapoi. Accounted for his bankruptcy ; principally by his rent having been too high. Had not owned a °racehorse called Rifleman. , Had a hack. Duchess, which he had sold in October for £5. Had a gig, -which he had sold for £8 about a year ago. Had a piano, which his wife sold about Feb. 5 for £2O, with which she paid £l7 owing on it. When he opened the account with Gard’ner and Bishop he might have said that he was in a better position than he had previously been, and that he had reduced his account to Mr Egan by £2O or £3O. Might have said that he had a free house as far as wines and spirits went, and very small liabilities to other firms, and was prepared to deal exclusively with Gard’ner' and Bishop until their loan was repaid. Had said that he was rather short of money to put in crops, but would be in plenty of funds in two or three months. Might have said that he had a piano and other furniture free of the bill of sale to Mr Egan. Gave a letter to Gard’ner and Bishop as to the terms of the arrangement. On Dec. 9he had given Mr Rainbow’s son a cheque for £2 16s, which was dishonoured. The same day he got ‘ some goods from Mr Rainbow’s son, which the latter practically forced upon him, but he kept them. Wcut to Fletcher, Humphreys and Co. in July and said Wood, Shand and Co. were pressing him for an account of £l6. Did not think he said that was the only other debt he owed, nor that he took £2O to £22 a week, nor that be had put £IOO of his own into the business,, nor that he was making £2OO to £250 a year clear. _ Might have said his debts were very trifling. Mr Kippenfcerger said that the bankrupt, in stating that £IOB was in the hands of his firm, had not allowed for certain payments which had had to he made. The total amount available was only £2B.

The creditors decided to request the Official Assignee to see if proceedings could he taken against the bankrupt.

H. C. BRICKLAND. The first meeting of creditors in the estate of Henry C. Brickland, Eolleston, farmer, was held at the office of the Official Assignee yesterday. Mr F. K., Hunt appeared for the bankrupt. There' was not a quorum. The bankrupt's statement showed secured creditors £1356 10s Gd, value of security £1345 10s, contra £ll 6s lid; total liabilities £2lO 7s, assets £5, deficiency £205 7s. The secured creditors were:—Victor Harris £25, value of security £3l 10s, secured by unregistered bill of sale over three draught horses and harness, trap, &c.; - C. T. Dudley. £I2BO, value of security £I2BO, secured by agreement over 320 acres of land at Eolleston; Reid and Gray, £47 16s lid, value of security £3O, supposed to be secured, but the bankrupt did not know the nature of the document ho signed ; C. Paiairet, £4, estimated value of security £4, secured by lien over crop of linseed. Value of furniture estimated at £5. There

were eighteen unsecured creditors, those for amounts of £5 and over being, Kaye and Carter £15.0s lOd, G. P. Kissel £23 13s Bd, Lonargan and Co. ’£s 6s Id, C. Paiairet £65 Os 7d, New Zealand Seed Company £6 14s lOd, S. Harris £l7 11s Bd, W. J. Byrne £33 11s 4d, and Kempthorne, Prosser and Co. £lO 6s 9d.